v3.24.1.u1
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Cash flows from operating activities    
Net income $ 16,862 $ 12,488
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 5,096 4,292
Amortization of debt issuance cost 458 237
Share-based compensation 5,748 3,445
Non-cash lease expense 3,155 2,013
Unrealized (gain) loss on investments (1,099) 5,755
Income from equity method investments (632) (2,484)
Unrealized loss on interest rate swaps 0 637
Deferred tax (7,248) 283
Other 6,795 0
Changes in operating assets and liabilities, net of business combinations:    
Receivable, net (26,128) (26,373)
Receivable, net – related parties (3,374) (9,730)
Other receivables (1,403) (94)
Prepaid expenses and other current assets (4,255) (506)
Other assets 92 (23)
Accounts payable and accrued expenses 905 (4,517)
Fiduciary accounts payable 56 911
Medical liabilities (808) 17,141
Income taxes payable/receivable 14,542 6,333
Operating lease liabilities (3,083) (2,088)
Other long-term liabilities 298 0
Net cash provided by operating activities 5,977 7,720
Cash flows from investing activities    
Payments for business acquisition, net of cash acquired (50,649) 0
Proceeds from repayment of loans receivable – related parties 6 2,141
Purchase of marketable securities (27) (1,000)
Purchase of investment – equity method 0 (325)
Issuance of loans receivable (20,000) 0
Purchases of property and equipment (369) (6,027)
Deposit for purchase of property 0 (8,824)
Net cash used in investing activities (71,039) (14,035)
Cash flows from financing activities    
Dividends paid (95) (120)
Borrowings on long-term debt 110,000 1,617
Repayment of long-term debt (3,500) (153)
Payment of finance lease obligations (179) (154)
Proceeds from the exercise of stock options and warrants 0 1,250
Repurchase of treasury shares 0 (9,539)
Proceeds from sale of non-controlling interest 150 0
Purchase of non-controlling interest (25) 0
Net cash provided by (used in) financing activities 106,351 (7,099)
Net increase (decrease) in cash and cash equivalents 41,289 (13,414)
Cash, cash equivalents, and restricted cash, beginning of period 294,152 288,027
Cash, cash equivalents, and restricted cash, end of period 335,441 274,613
Supplemental disclosures of cash flow information    
Cash paid for income taxes 194 0
Cash paid for interest 6,430 2,991
Supplemental disclosures of non-cash investing and financing activities    
Business acquisition in accounts payable and accrued liabilities 63,935 3,844
Right-of-use assets obtained in exchange for operating lease liabilities 4,910 0
Common stock issued in business combination 21,952 0
Purchase of investments - equity method in accounts payable and accrued liabilities and other liabilities 9,487 0
Draw on letter of credit through Revolver Loan 4,759 0
Reconciliation of cash, cash equivalents, and restricted cash    
Cash and cash equivalents 334,796 274,613
Restricted cash 645 0
Total cash, cash equivalents, and restricted cash shown in the statement of cash flows $ 335,441 $ 274,613

Source

10-Q PDF
XBRL